Gallacher Capital Management LLC Sells 2,064 Shares of Boise Cascade (NYSE:BCC)

Gallacher Capital Management LLC decreased its holdings in Boise Cascade (NYSE:BCC) by 28.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,226 shares of the construction company’s stock after selling 2,064 shares during the period. Gallacher Capital Management LLC’s holdings in Boise Cascade were worth $676,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BCC. Measured Wealth Private Client Group LLC lifted its position in shares of Boise Cascade by 62.1% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 5,178 shares of the construction company’s stock valued at $670,000 after buying an additional 1,983 shares during the last quarter. LSV Asset Management raised its position in Boise Cascade by 55.0% during the 4th quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock worth $57,702,000 after buying an additional 158,363 shares during the last quarter. Summit Global Investments raised its position in Boise Cascade by 19.0% during the 4th quarter. Summit Global Investments now owns 13,700 shares of the construction company’s stock worth $1,772,000 after buying an additional 2,186 shares during the last quarter. Owen LaRue LLC purchased a new position in Boise Cascade during the 4th quarter worth approximately $1,865,000. Finally, Hexagon Capital Partners LLC raised its position in Boise Cascade by 71.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 743 shares of the construction company’s stock worth $96,000 after buying an additional 310 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Insider Activity

In other news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the transaction, the executive vice president now owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BCC shares. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. The Goldman Sachs Group lifted their target price on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Finally, Truist Financial boosted their price objective on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $125.00.

Boise Cascade Price Performance

Shares of NYSE:BCC traded up $1.57 during trading on Friday, hitting $136.05. 328,037 shares of the stock were exchanged, compared to its average volume of 308,373. Boise Cascade has a 12-month low of $66.82 and a 12-month high of $154.67. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $140.20 and a two-hundred day moving average price of $127.43. The company has a market cap of $5.38 billion, a PE ratio of 11.23 and a beta of 1.64.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.01). The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Boise Cascade had a return on equity of 21.94% and a net margin of 7.07%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 EPS. On average, analysts forecast that Boise Cascade will post 11.44 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.80 annualized dividend and a dividend yield of 0.59%. Boise Cascade’s dividend payout ratio is presently 6.60%.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.